At the regular press conference of the Government of June 1, 2024, Deputy Minister of Planning and Investment Tran Quoc Phuong shared that business registration and establishment have been heated topics of societal concern.
Regarding business registration in May 2024, Deputy Minister Phuong observed a positive trend. The total number of newly established businesses and those re-entering the market or resuming operations reached 20,000, 1.7 times higher than those exiting and a 10.6% increase compared to the same period last year.
In the first five months of 2024, the trend shows that the number of newly established businesses and those re-entering the market exceeded those exiting.
Specifically, 98,800 businesses were formed or re-entered, while 97,300 left the market, a slight difference of about 1,000 businesses. This indicates that businesses are facing significant challenges in their production and operations in the current context.
Regarding business registration, Deputy Minister Phuong affirmed that the Ministry of Planning and Investment has been closely monitoring and regularly reporting to the Prime Minister and the Government, highlighting positive signals of economic recovery and increases in new business registrations. However, he also acknowledged the prevailing difficulties and challenges.
Therefore, at the Government meeting on June 1, 2024, the Prime Minister directed specific solutions to actively promote growth in three key areas.
First, continue to remove obstacles for businesses, especially administrative procedures, to facilitate market entry and smooth operations.
Second, improve input factors, particularly through fiscal and monetary policies. This includes maintaining stability and enhancing businesses’ access to credit; proposing tax reductions and considering fee and charge reductions or postponements to increase businesses’ cash flow, and supporting input factors and output solutions.
Third, regarding Vietnam’s export market, promote solutions for businesses to promptly secure new orders to sustain their production and business activities.
